arjun joins us at the desk arjun, investors were prepared for a not so great earnings report it wasn'ts bad as feared what is happening at nintendo? >> we are looking at a story where nintendo in the current generation with the switch console past its peak. it has been on the market for six years. 15 million for the current year for the switch sales which is under 18 in the last fiscal year and 23 million in the previous year there is the downward trend. it is an aging console it is reflect in the forecast. nintendo looking at net profit down 21% they are looking at revenue down about 9% in the current fiscal year with switch sales down. software sales down 15% which is the forecast for the fiscal year that reflects a reduction in hardware the key for nine tendo is how d they monetize the users for nintendo with the consoles with the switch titles? it is concerning a drop in software sales because nintendo has the breadth of games mario and pokemon and zelda. if they are not able to continue with the big hits over the software base, it marks a question where does growth come from is it

we turn to arjun khapal with the highlights from the apple report arjun, what stuck out? >> frank, i would not call this a blockbuster earnings report, but showed the resiliency of apple with 2 billion user install base revenue up 2.2% for the year the key was this iphone figure coming in ahead of expectations of $51.33 billion. that was up year on year in what was a challenging macro environment. the smartphone market globally plunged 14%. apparele managing growth with t iphone 14 which is clearly working. that excitement with the iphone was enough to offset the disappointment in the category of mac and ipad. mac sales down 30% year on year. apple told investors this was not a great quarter for the mac or ipad. investors were expecting that. the expectations were low. the iphone figure, frank, that excited the market that is why apple shares are up in pre-market. >> apple shares up 2% in pre-market you are saying it wasn't a blockbuster report tell us about services what was the table read on services >> services remained resilient revenue grew 5%. this is a deceleration

chips. >> arjun, the rise is across all sectors. semi etfs. coming off 52-week highs same for the qqq and spdr. semi stock is getting a boost. amd and asml all around one-year highs. wit with this, one missed out. namely cathie wood what do you make of that >> i have a thought, frank when chatgpt came out, it was november where it was new and it went viral in december we were looking at this and thinking is this a gimmick what does it mean for the tech firms and the companies able to monetize a.i.? clearly nvidia got a boost wood sold her stake in january on nvidia. it rallied 17% from the october lows you think that is a reasonable gain to have take that money off the table. that is perhaps what she did i'm sure she was thinking about the interest rate situation if you think back in january which was a different picture for interest rates people thinking the fed may go more aggressive. what does it mean for tech stocks the nasdaq held its own. perhaps she was more circumspect and that went behind the question of valuation of nvidia at the tim

arjun, there is a lot to unpack here let's start with ark innovation funds.ld out of nvidia is surprising because this was a lady that was betting on high growth sectors clearly as you look at where we are today with nvidia and a.i. and chipmakers are the space to be involved in. >> it is wonderful with hindsight. it was in january when she closed out her position. when you think of chatgpt hit the market at the end of last year, it took off the back end of last year you see this is a cool thing we can use it to do things how do we monetize this? what does this mean for the tech giants and bid for a.i you look at that and think microsoft and google and amazon. under that was nvidia. nvidia to that point had a pretty good bump so far on the back of the chatgpt craze. it was easy to see it has run too far. maybe it was out of control when we were looking at what the fed was doing and the impact it might have on growth stocks going forward. it was unclear how far the fed might go and aggressive they may go there was uncertainty about the extent about the nasdaq

arjun, stellar results from nvidia >> absolutely.laying into the theme of the explosion of a.i this was very much an a.i. quarter. you look at the gaming chips they fall 30% year on year data business up 14% they make chips that go into servers that power the servers to train the data that train the a.i. like chatgpt. there was a huge demand there. what was more exciting was the outlook. the q2 outlook and forecasting $11 billion in sales they said that is due to the demand for generative a.i. the company said it procured higher chip nos in the second hf there is demand and the company can meet the demand. that is what is driving the after hour moves. >> we have gone from a shortage to a glut. clearly this is going to really bode well for the sector as a whole. it is not just nvidia which is clearly seeing gains >> we tend to talk about semi conduct irreor space we look at samsung which makes a certainly chip which go into pcs. that market has done terribly this year because demand for pcs and devices have been difficult. you have se

frankfurt listing up 2.25% arjun is joining us on set with more arjun, we spoken about this many times. dan ives is out with a catchy way to describe erarnings. he said it was a lebron-like earnings stellar set of results >> i would slightly disagree i think the message that i've been saying to the tech earning season is this expectations have been low for this whole tech earnings season. even with apple. the company telling ipads would be bad and investors were looking at this as not a great quarter and you look at revenue growth down 3% on the quarter, that is not great. iphone sales are up. not that much. not that great the key is resilience. that has been the theme, i think, through the quarter we saw it with alphabet and microsoft. not massive growth, but resilience in a difficult macroeconomics environment smartphone sales are plunging across different device makers and across the world apple with revenue growth. this is not a blockbuster quarter that we have seen in prior quarters from apple. certainly it was one that continues to demonstrate the strength of apple and its iphone

it has the eu on its side, but two regulators stand in its way in the form of uk, cma and ftc >> arjunome here on "worldwide exchange," a big win for peacock and sports illustrated new cover model embracing for record travel. we are have the top trending stories coming up. catch my conversation with the ceo of s.a.p. coming up at 4:30 p.m. eastern we have more on "worldwide exc exchange." we're coming back in a moment. d financial planner™? - i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. >>> it is 5:30 a.m. in new york city we are just getting started here on "worldwide exchange." debt ceiling sitdown take two. president biden set to reconvene with mccarthy and other la lawmakers. the latest in a moment. >>> and fears of debt drama making investors nervous we are looking to protect portfolios at charles schwab. >>> and home depot with earnings out in minutes we have this only on "worldwide exchange" here on cnbc >>> welcome back to "worldwide exchange." i'm frank holland. let's pick up the check on the u.s.

taking data from the ireland commission from 2.5 billion euro meta says it will appeal the decision arjuns joining us with the decision arjun, this is not the first time surely one would have thought a steeper punishment be in place. >> this is a decade long story it started in 2013 with the whistleblower edward snowden regarding the u.s. surveillance practices from the nsa and other agencies following that, we had a case from the austrian privacy campaign who effectively said any data transferred between eu and u.s. was not safe because in the u.s., the safeguards were not in place to protect the data then the eu and u.s. had these legal mechanisms in place to allow the data transfer to allow between the eu and u.s the latest was privacy shield. that was struck down in 2020 by the european court of justice which said a similar argument. eu data goes to u.s. was not subject to strict enough privacy laws after that, facebook used a different mechanimechanism. what the irish commission said, who is in charge of the case, did not address the fundamental rights and risks that were in that ori

a lot more games will be available in cloud streaming >> arjun joins us with a wonderful floral tie todayet's ask the obvious question why did they take a different view >> it goes back to the crux of the regulators with the deal if this deal goes through, microsoft could take the games like "call of duty" and "world of warcraft" and make them excl exclusive. the console market would not see a big deal because it is not commercially beneficial for micr microsoft. in the nascent cloud gaming market, it is a small part of the market and they said this is a concern. the difference was the remedy. microsoft said for ten years, whatever games people buy, they can stream off any cloud gaming service. think of it like netflix for gaming streaming games on the go. you don't need hardware. a tv or mobile phone what microsoft said is we will give them out royalty free if you buy an activision game, you allay those concerns. the eu said yes to that remedy eu said this will boost c competition. it allows other players to have a good library of games available for players. that will increase competiti

and lisa arjun, good morning to you. let's get a check on the forecast. skies, san francisco, 52 degrees, 54. in oakland, it's 57. in san jose. and here in santa cruz, it is gray. temperatures in the mid 50s upper 60s today, low 50s santa rosa. so the low clouds and fog beginning to break away from parts of our east bay valleys. but you can see the fog a mile and a half visibility tsay half moon bay and the breezy winds from concord to walnut creek through the delta. and they'll continue to pick up throughout the day. so this is going to allow for the temperatures not to get too warm. and in fact, we're going to see those gusty winds at the coast allowing for cool temperatures, gray skies and temperatures below average from san francisco to oakland. upper 50s to mid 60s. it's going to be late clearing parts of oakland, emeryville and hayward today. liz >> all right, lisa, thank you. thanks for joining us. the news continues right now with gma. have a great day me? yup. hi. hi? treating your car as good as you treat your dry-clean onlies. i see you winning

arjun, good morning to you. let's get a check of the forecast. gray sky here from emeryville low to mid 50s and from mount tam, that deck of low clouds is with us. >> it's going to retreat as we get that surface heating and we'll see mainly 60s and 70s today. gray at the coast. all right, lisa, thank you. >> thanks for joining us. the news continues right now with gma. have a great day like going hiking, just to hike to the bathroom. reaching for the bar, just to reach for pads. waiting for the sunset, just to wait for the stall. discover gemtesa. a once-a-day pill proven to reduce all 3 key symptoms of oab: leakage episodes, urgency and frequency in adults. do not take if you have a known allergic reaction to gemtesa or its ingredients. tell your doctor right away if you're unable to empty your bladder or if you have a weak urine stream. tell your doctor if you're taking medicines that contain digoxin or if you have liver or kidney problems. side effects may include headache, common cold symptoms, diarrhea, nausea, urinary tract and upper respir

. >> arjun has a quick look at yeah, i got one: how about the best network imaginable?'s what we do here. quick survey. who wants their internet to work pretty much everywhere? 'cause we're busy women. we don't have time for lag or buffering! get internet on the xfinity 10g network st $25 mars with wifi equipment included. and it needs to run smooth— like, super, super, super, super smooth. hey, should you be drinking that? it's decaf. the next generation 10g network. only from xfinity. the future starts now. wednesday morning to you. >> look at this guy here, the low clouds from our exploratorium camera. low 50s downtown, as well as san jose. and it's much cooler in the north bay. you can see the wind here, a little breezy downtown, 43 santa rosa. while it's in the low 50s inland, 51 in napa. so today, not much of a warmup, but the clouds will scatter out, mostly sunny skies mid 60s on the bay shore here, upper 60s to near 70 and our warmest inland valley. so that's shy of the mid 70s where we should be this time of year. but we'll make up the difference tomorrow and t

they are working in 2019 with the 69% net arjun double -- with a 6.9% margin double.the numbers come out tomorrow. 8:30 eastern time we catch up with mike kaplan -- mike ga pen here in a few moments. and then -- tom: she works from home six days a week. jonathan: i think she is here today. from new york. this is bloomberg. >> now keeping you up-to-date with news from around the world. here is the first word. i am lisa mateo. a small group of negotiators will head back to the table to discuss details on the debt limit after president biden and congressional leaders failed to come up with an -- avoiding default. they hope to resume the talks next week when the president comes back. the president and lawmakers say they are hope will that they can find a bipartisan middle ground. former vice president mike pence is calling for an end to the fed's dual mandate. he says the central banks should vote -- focus on inflation and leave job creation to the president. and they should return to their mission of ensuring sound policy. he is considering challenging donald trump for t